Nature of the Asahi prepayment? Wonder if this deal with Asahi Refining was unsolicited like the BMO bought deal was?
Read somewhere recently that gold refiners were seeing more competition in search for dore to process?
From mar 28 pr:
Asahi gold prepayment agreement
On March 27, 2024, Calibre entered into a $60-million (U.S.) gold prepayment agreement with Asahi, pursuant to which Asahi has advanced a first instalment of $40-million (U.S.) and is expected to advance a second instalment of $20-million (U.S.) on or about April 15, 2024. Calibre is required to deliver Asahi 2,300 ounces of gold per month over a 12-month period, beginning in May, 2024, such ounces are determined based on gold forward curve prices averaging $2,239 per ounce. Approximately 2,233 ounces per month will be credited against the prepayment and Calibre will receive a cash payment for the balance. The obligations under the gold prepayment agreement and ancillary documents are guaranteed by certain United States subsidiaries of the company, and secured by all present and after-acquired property of such U.S. subsidiaries and certain gold and dore of the company.